The phrase “credit union” ties us all together in a common bond; from the shores of British Columbia to the beaches of Florida and around the world, we are all recognized as forming a unique relationship with our members, sitting on the cutting edge of technology and providing a service for many who would not otherwise benefit. The same benefits apply to our interactions; we have unique relationships between credit unions, often referred to as “co-opetition” that pushes everyone to succeed.

On the flip side of this “co-opetition”, we have the flexibility to co-operate with each other. In the past, I’ve relied heavily on my peers throughout the credit union system and I feel any one can call on me for help or advice with any issues they are dealing with. This “co-op co-operation” is at the heart of why a Credit Union Shared Source project can succeed in today’s competitive environment.

The idea is simple: An online portal where credit union staff are grouped together under their credit union and contribute ideas, problems, solutions or code into the public realm. This requires understanding and full acceptance by the credit union’s management so no information is posted publically until approved by the leader of the portal’s credit union group. Once posted, every other Shared Source contributor can take the information as it is, or comment on it, change it, mold it into something new – all in full view of the rest of the participants on the portal.

Participants are also given the opportunity to score submissions. These scores are aggregated up to the Credit Union group level so a Top 10 Credit Union Contributors list is ongoing, showing the credit unions that are the largest supporters of the system, as well as a Top 10 Credit Union Feedback list that displays the credit union individuals who participate the most.

Why participate?

At the end of the day, participating Credit Unions will have contributed to a system that provides an opportunity for all credit unions to succeed. As a small, fictional Credit Union, Direct Credit Union would have at its disposal access to expertise from around the continent and then have the opportunity to showcase its ideas on a larger stage. As a large, fictional Credit Union, National Credit Union would have an easy, trackable, manageable display of its co-operative principles in play and be able to leverage this portal to discover innovative ideas that often occur outside of the traditional development process.

So, can we work together? Can a rising tide really lift all boats? A vote for the Credit Union Shared Source project moves us forward!